Re: forclosure after a ch 7 with a twist
Posted by NJD on August 25, 2008 at 06:52:39:
In Reply to: Re: forclosure after a ch 7 with a twist
Posted by Jean on August 24, 2008 at 15:49:57:
What is the Bankruptcy Trustee's position on this? Did the Chapter 7 result in a discharge?
The lifting of the automatic stay is routine so the lender can proceed with foreclosure. Even if both the first and second mortgage debt has been discharged, the mortgages remain as a lien on property and must be dealt with.
When factoring any repayment plan, you must respect the second's position.
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